Comment It is new world bribery and payouts (Score 4, Interesting) 266
Father works for Morgan Stanly and Mother is some lawyer.
People don’t you really see? It is new world bribery and payouts? Yahoo could write “similar” app for much less, but they do not really need it.
Kid got 300k from some investors in the past, then raised another million from Li Ka Shing (look him up) Yahoo or whoever needs to pay, can not pay directly to Li Ka Shing any money to avoid audits and conflict of interest charges and lawsuits, so what they do? Pays the kid 30 millions for some stupid app, 29.5 goes to Li Ka Shing (main investor) the rest goes to the kid.
Now those investors got paid off. Kid is in the media selling light of hope for all the losers dreaming about another face book, and all the messes and government have no clue what just happened.
As they say if something looks stupid and ridicules probably it is.